Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$4,375,000
Retail space
16491 Lakeshore Dr Lake Elsinore, CA 92530-6723
Entity Owned
2-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US10-2266790
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
2008
Construction
TILT-UP CONCRETE
Total area
16,742 SF
Lot
1.56 ac (67,953 SF)
Zoning code
CP
APN
379-241-058
UPID
US10-2266790
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Rite Aid Photo (Bike/Boat/Book/etc) Store
-
Western Union Bank Credit Union
-
Coinhub Bitcoin ATM Teller Atm
-
higi Physician
-
Gloria Aidoo, PharmD Pharmacy
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$3.69M
Comparable Approach
Comparable
$4.95M
Blend (final)
Blend
$4.38M
Owner & transaction history
16491 Elsinore LLC · 2 yrs held
16491 Elsinore LLC
since 2023
7 recorded transactions
Zoning & alternative use
CP · Lake Elsinore, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$7.2M
+45.0%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Lake Elsinore submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lake Elsinore submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$4,000,000
6.5%
$3,690,000
7%
$3,430,000
Alternative Use
Use
Estimation
RETAIL STORES
$4,985,000
Current use
AUTO REPAIR, GARAGE
$7,230,000
Change: +45% · Conversion: Difficult
WAREHOUSE, STORAGE
$4,945,000
Change: -1% · Conversion: Difficult
Blend value · Realmo final
$4.38M
Range $3.94M – $4.81M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$261 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$101,575
Tax year 2024
Assessed value
$9,446,220
Assessed 2024
Previous assessed
$9,446,220
+0.0% YoY
Effective rate
1.08%
On assessed value
Assessed land
$1,611,761
Assessed improvement
$7,834,459
Applied tax rate
5.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
2008
Construction
TILT-UP CONCRETE
Heating
NONE
Stories
1
Total area
16,742 SF
Lot
1.56 ac (67,953 SF)
Zoning code
CP
APN
379-241-058
UPID
US10-2266790
Jurisdiction
RIVERSIDE
Zoning & alternative use
CP · Lake Elsinore, CA
Zoning CP · permitted uses
CP · Lake Elsinore, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Lake Elsinore. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$5.0M
AUTO REPAIR, GARAGE
Est. value
$7.2M
WAREHOUSE, STORAGE
Est. value
$4.9M
RETAIL STORES Current
AUTO REPAIR, GARAGE
WAREHOUSE, STORAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2008
Construction
TILT-UP CONCRETE
Heating
NONE
Stories
1
Lot
1.56 ac
Current owner
From public records · entity-resolved
16491 Elsinore LLC
Entity
Mailing address
1269 W I ST, LOS BANOS, CA 93635-3930
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
11 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 15, 2023
—
16491 Elsinore LLC
Turner Island Farms
Grant Deed
—
Jul 27, 2021
$8,500,000
Turner Island Farms
Kp Real Estate Two LLC
Grant Deed
—
Aug 5, 2020
$7,250,000
Kp Real Estate Two LLC
Ru Thrifty Lake Elsinore LLC
Grant Deed
$4,712,500 · Bank Of The Sierra
May 5, 2016
—
Ru Thrifty Lake Elsinore LLC
—
Deed
related
$3,953,000 · Rabobank
Mar 31, 2016
—
Ru Thrifty Lake Elsinore LLC
Rich Uncles Real Estate Inv
Quit Claim Deed
related
—
Dec 8, 2015
$7,905,000
Rich Uncles Real Estate Invest Trust
Eletreby Ents INC
Grant Deed
—
May 23, 2008
$7,612,500
Eletreby Ents INC
Prp Investors-lake Elsinore Ll
Grant Deed
$2,500,000 · Bank Of Whittier
Dec 29, 2005
—
Prp Investors Lake Elsinore LLC
Nick T Reckas Profit Sharing Trust
Grant Deed
$1,410,000 · Wells Fargo Bank NA
Jan 20, 1999
$205,000
Nick T Reckas
Nyiri,george & Julia
Grant Deed
$55,000 · Seller
Apr 1, 1988
$160,000
George Nviri
Happs Robert C
Grant Deed
$110,000 · Happs Robert C
—
—
Ru Thrifty Lake Elsinore LLC
—
Deed Of Trust
related
$3,953,000 · Rabobank
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 16491 Lakeshore Dr?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
